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geithner says the white house is ready to go over the fiscal cliff if tax rates on the wealthiest don't rise. investors looking for ecb guidance when draghi announces the bank decision later today. and stocks in europe are trading higher. aerospace giant has unveiled its ownership restructuring plans. apple and samsung are heading back to a californian courtroom today to renew their dispute. hearing starts at 4:30 eastern. samsung wants the court to toss out a jury verdict for patent infringement. apple wants to block some sales of samsung smartphones in the united states. apple suffered its worst day in four years and may be creediedi ground in the market. 417 companies in the s&p have a market cap below $35 billion. in frankfurt right now, apple stock down 3%. i'm afraid more bad news, as well, coming out of china. because apparently apple's rang in china smartphone market which will become the largest this year is down two spots to number six in the third quarter. suffering tough competition from chinese brands. this is according to idc. they say the u.s. market share in china unde
balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve, thank you. >>> when jeff kilburg is not fired up about the irish he is fired up about what mr. dudley said today. why? >> absolutely. he came out with very dovish comments. he lass a permanent vote and he is quite the confidant of ben bernanke. so he flat-out gave a wink-wink, there's something big coming in less than two weeks. >> he's been a dove for a long time though. no change but just to hear it articulated gives you some sense of -- >> it does. this could be a one-two punch. if the fomc comes out with additional measures, subsequent week later, all of a sudden they have the fiscal cliff resolution, bam, we could see a test of the 1,460 of the
on capital, most regrettable. in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown rai
to avoid the fiscal cliff, which includes higher tax rates for the wealthy. house republicans are meeting with small business owners today as lawmakers are divided on how much they should compromise. we have the latest on the standoff in washington. >> good morning, guys. speaker of the house john boehner's new problem for the rest of this week is figuring out how to continue negotiations with the white house without losing his conservative base of support up on capitol hill. yesterday we saw senator jim demint go a little bit wobbly on the speaker of the house saying that the speaker had proposed an $800 billion tax increase that was going to damage the u.s. economy. now, interestingly enough, senator mitch mcconnell, the republican leader in the united states senate, said that he wasn't all that bothered by the republican house proposal. take a listen to what mcconnell said. >> i think it's important that the house republican leadership is trying to move the process forward. frankly, i had hoped we'd be accomplishing more in the real talks that are going on privately, but i can tell you
we could do is go over the fiscal cliff. we have the same tax rates that we have when bill clinton was president. significant cuts in defense and also significant human services can you tell us. >> katie, let me ask you, before you respond to what governor dean is saying. there is logic to what howard dean is saying. i don't happen to agree with it. but i know where he's coming from. katie, let me ask you this -- katie can't hear me. we'll wait for her to get back hooked in. howard, what about the notion that i'm posing tonight -- i've said this a few times -- republicans better be careful. they're not going down your road and the democrats aren't going down your road. you have middle class tax cuts for the democrats and it sometimes sounds to me as an old reagan conservative that the republicans better watch themselves because sometimes it sounds like they are kind of defending rich people. that's their whole mantra, just defending rich people. and i think that's not where they should be. >> i would agree. if i were politically advising the republicans, which i'm certainly not, i
over the fiscal cliff and also because the marginal tax rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have
parker, thank you. i want to talk to you some more. we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> 28 days until the country plummets off the tax and fiscal cliff. big tax hikes could be coming for everyone but we see also a drastic redu
bernanke and interest rates and what's going on in washington beyond the fiscal cliff. he's got lots of views. >> does he pull punches about bernanke? >> there's a couple comments i think we'll run in the 7:00 or 8:00 hour, he's diplomatic about it, but if you listen very carefully, i think you know where he stands on a lot of the stuff. he talks about the punch bowl and having to take around the punch bowl before -- >> the lead story in the journal -- >> the fed stimulus. we're back again. >> operation twist is supposed to be up january 1st. >> he's also got interesting theories on the volcker rule and banks still. so we'll be running some of that throughout the broadcast. >>> in corporate news, rio tinto plans to cut cost and sell more assets. and two audit firms are now being sued regarding the acquisition of hp. shareholder law side has named deloitte and kpm claiming they missed numerous red flags. board of directors also named. >> a magnetic lawsuit. you see the press release go out and someone has to boiler plate to say, okay, we're the accountants, we're the bankers, here we
tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out forever, if we're irresponsible and governor doesn't work. left with those four choices
pointing on the fiscal cliff talks. take a listen to this. >> it's not acceptable to moo a me to you for members of congress to hold middle class tax cuts to hostage simply because they don't want tax rates on upper income folks to go up. >> the white house spent three weeks trying to develop a proposal, and they send one up here that calls for $1.6 trillion in new taxes, calls for a little not even $400 billion in cuts. it was not a serious proposal. >> all right. so where are we right now? even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've seen this before from him. my proposal is, republicans have to come with a
year's fourth quarter. the reason? the fiscal cliff. if we go off the cliff tax rates on dividends could go from 15% to more than 43%. companies are racing to beat the tax hikes by paying dividends before december 31st and some of the biggest beneficiaries, both insiders and ceos. mickey arison is getting $89 million from carnival giving him a potential tax savings. and larry elison is getting savings around $56 million. thomas frist at hca is getting around $350 million, saving him $100 million. and kkr and bain capital will get a big piece of the dividends. the king of all dividends is sheldon adelson who gets $1.2 billion from sands corp dividend and his tax savings alone could be $340 million. all shareholders benefit from dividends and many of the owners and ceos have recused themselves from the dividend votes, but these companies tend to have higher insider ownership. the average insider ownership of these dividenders is around 27%. it all shows that just the threat of higher taxes is causing companies and people to take next year's income today when they can. >> yeah. it's i
of the fiscal cliff. >> craig, you're the patient value investor. are you standing aside, waiting for this to resolve itself? >> you know, we use the volatility, the fiscal cliff to buy great businesses that are on sale. you know, the fact remains that the stocks are extremely underowned like i've never seen. i saw the other day, in 2006 pensions and endowments had about 60% of their enveinvestme in equities. that's down to under 35% in most cases. you also had four years of the much yul fund li mutual fund liquidations. i don't think the market is at great risk here. stay with domestic companies. stay with companies that have real high barriers of entry that are kpacheap. if you get caught up in the day to day news flow, you can get whipped in and out. the fiscal cliff will be resolved, whether it's two weeks or a month and a half. the market will move around, but long term it looks good. >> the question s how will it be resolved? jeff cox, already we are seeing a movement on the part of investors to say, if i'm sitting on a position where i've made money, i'm going to sell now g
29 days to go before the u.s. hits the fiscal cliff. both sides are blaming each other for the standoff unsurprisingly. timothy geithner is pushing the gop to offer specific ideas and predicts they'll eventually yield on raising tax rates on the wealthy, but john boehner is standing firm against those high taxes. >> we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because a small group of governors want to extend tax rates for 2% of americans. no reason why that should happen. >> geithner says republicans will be responsible if no budget deal is reached by the end of the month. boehner says the fight has only begun and he's interested in cutting a deal and not sounding a fiscal alarm. we'll be talking about how the two sides might be able to break the deadlock with a did democratic strategist in the next half hour or so. now, singapore airlines has confirmed it's in talks with
for an interview you'll only see on this network. see what he thinks about the fiscal cliff. >>> later on in the program, with the rush to sell high-end homes to take advantage of this year's lower tax rates, is it a good time now to snap them up? our wealth editor robert frank. plus, our real estate correspondent will tell you what you need to know back half of the show. don't miss it. >>> and here's a lye shot of the street outside the new york stock exchange. christmas tree is right behind the band there. they are ready for the tree lighting ceremony. expect it to take place about an hour from now. we'll take you there live. back in a moment. obligations. obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includ
put the chance of going over the fiscal cliff? >> i think the odds are somewhere in the neighborhood of about 15 ch about 15% to 20% that we go over. but my hope is that we don't. >> what happens to the market if we go over? >> i think we are going over, first of all. and i don't really think that we can get a good solution unless the markets force the issue. so one way or another, i think we have a near term correction. it either comes before the end of the year and forces the politicians to compromise now, or the beginning of next year and forces them after -- >> when does the bond market notice? i don't even care about the stock market. >> if you think you're going over the cliff, about the only hedge out there is like 30 year zeros. because think about what will happen. you'll slow the economy. they'll go to rates you couldn't believe if we really go over full bore. if we go right over with no solution at all -- >> what happens if we get a long term solution to all our problems? >> the thing you have to be scared of with rates is the thing you always have to be scared of, the eco
the fiscal cliff, which you just called serious business, or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> what's that point of balance you just spoke about? could you put a debt limit increase in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life. but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're probably -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- >> i continue to believe that any increase in the debt limit has to be accompanied by spending reductions of that -- that meet or exceed it. >> thank you. >> with that, the happy talk azharry reid called it the other day is basically a thing of the past. speaker boehner saying he is disappointed in where
, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid of congressional approval of the debt ceiling at all, which is that ludicrous proposal that was in th
wednesday. they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal would be in reach. >> interesting. bill ford jr. agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, ford says the automaker is prepared for any outcome. and it seems there's been a bit of a panic among retail investors in the credit market amid pointing fears other the fiscal cliff. our next guest says that could create buying opportunities. he's brian reynolds, chief market strategist. brian, good morning or good night, i guess i should say, depending on whether you've been to be
Search Results 0 to 17 of about 18